Brighton Jones LLC Acquires New Shares in Blend Labs, Inc. $BLND

Brighton Jones LLC bought a new stake in shares of Blend Labs, Inc. (NYSE:BLND) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 23,803 shares of the company’s stock, valued at approximately $79,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Revolve Wealth Partners LLC acquired a new position in Blend Labs during the 4th quarter worth $132,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Blend Labs in the 1st quarter worth approximately $64,000. Teacher Retirement System of Texas bought a new position in Blend Labs during the 1st quarter valued at $105,000. Huntleigh Advisors Inc. lifted its holdings in Blend Labs by 16.8% in the 1st quarter. Huntleigh Advisors Inc. now owns 153,735 shares of the company’s stock valued at $515,000 after acquiring an additional 22,074 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in Blend Labs during the first quarter valued at approximately $62,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Blend Labs Stock Up 2.0%

NYSE:BLND opened at $3.31 on Friday. Blend Labs, Inc. has a 12 month low of $2.63 and a 12 month high of $5.53. The firm has a market cap of $858.18 million, a price-to-earnings ratio of -22.03 and a beta of 1.24. The company’s 50 day moving average is $3.65 and its 200-day moving average is $3.48.

Blend Labs (NYSE:BLND) last announced its earnings results on Thursday, August 7th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.05). The company had revenue of $31.52 million for the quarter, compared to analysts’ expectations of $31.93 million. Blend Labs has set its Q3 2025 guidance at EPS. Research analysts predict that Blend Labs, Inc. will post -0.19 EPS for the current fiscal year.

Insider Activity

In other news, insider Nima Ghamsari sold 311,886 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $2.90, for a total transaction of $904,469.40. Following the transaction, the insider owned 5,754,051 shares in the company, valued at approximately $16,686,747.90. The trade was a 5.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian Kneafsey sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $3.34, for a total value of $83,500.00. Following the sale, the insider owned 687,909 shares in the company, valued at approximately $2,297,616.06. This represents a 3.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 361,886 shares of company stock worth $1,059,719. Insiders own 35.52% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods cut their price objective on Blend Labs from $4.00 to $3.75 and set a “market perform” rating for the company in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Blend Labs in a research note on Wednesday, October 8th. UBS Group reduced their price objective on Blend Labs from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Blend Labs from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $5.25 price target on shares of Blend Labs in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Blend Labs presently has an average rating of “Moderate Buy” and a consensus price target of $4.88.

About Blend Labs

Blend Labs, Inc engages in the provision of cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company's Blend Builder Platform offers a suite of products that powers digital-first consumer journeys for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts; and offers mortgage products to facilitate the homeownership journey for consumers comprising close, income verification for mortgage, homeowners' insurance, and realty.